Colorado state welcomes trucking business with special sales tax perks
While experiencing uncertain economic times, one state is taking charge by offering incentives to drive additional business to their region. In Colorado, officials have passed a bill to cover special enterprise zones and sales tax breaks, reports Land Line.
Lawmakers say they hope this program will encourage truck traffic to the distressed parts of the state. The extra revenue is slated to boost the economy and encourage improvement in Colorado's trucking industry.
The state plans to balance out the lost taxes with steeper fines for overweight trucks that are not within regulations. The bill was passed in 2010, and the promotion will begin July 1st of this year.
According to the state's government website, there are several forms of tax decreases offered in the 16 enterprise zones. For example, fleet management owners can receive a 10 percent tax credit for expenses they have towards training their drivers. If a business buys a commercial vehicle inside these zones, they can receive a refund of 1.5 percent of the tax.
Friday, June 24th, 2011
While experiencing uncertain economic times, one state is taking charge by offering incentives to drive additional business to their region.